I think they just choose W, because it's the letter before X (former twitter). Apart from the EU leaders and politicians stroking each other egos, I hardly think anyone would be there and it would die out in few years.
Given how bad X was as a company/product name, basing your own company name off that certainly seems like an interesting choice. X at least has the fact it's rebranded Twitter bringing in attention.
that would be then A-Social network. In German that would be kind of pronounced as asocial and that's a term used to call people that are anti-social in a negative manner